U.S. Import Prices Unexpectedly Rise 0.3% In August

(RTTNews) - A report released by the Labor Department on Tuesday showed import prices in the U.S. unexpectedly increased in the month of August.

The Labor Department said import prices rose by 0.3 percent in August after inching up by a downwardly revised 0.2 percent in July.

Economists had expected import prices to edge down by 0.1 percent compared to the 0.4 percent increase originally reported for the previous month.

Meanwhile, the report said export prices climbed by 0.3 percent in August, matching an upwardly revised increase in July.

Economists had expected export prices to come in unchanged compared to the 0.1 percent uptick originally reported for the previous month.